By Emmanuella Anokam / Blessing Onyeaka The federal government on Monday unveiled the Nigerian Investment Promotion Commission (NIPC) “State Book” aimed at boosting domestic and foreign direct investment (FDI) for economic growth. The “State Book”, a compendium of key investment opportunities and comparative advantages of the 36 states and the CTF, was prepared by the NIPC in collaboration with the Nigeria Governor’s Forum (NGF). Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, said at the compendium’s official launch in Abuja that the initiative would help investors better appreciate investment potentials across Nigeria. In a keynote address, Adebayo noted that the document would help attract the right investments to Nigeria, improve productivity, create jobs and generate income for the country. “The ministry appreciates that the work has been fully supported and approved by all 36 governors, including the CTF Minister. “It shows how we are working collectively to ensure that […]
By Ismail AbdulazizDangote Cement Plc management says the price of a bag of cement from its factories and factories across Nigeria as of April 12 is N 2,450 in Obajana and Gboko, and N 2,510 in Ibese, value added tax. (Taxes included. The company has made this clarification given recent insinuations that the company sells cement in Nigeria at significantly higher prices compared to other countries, particularly Ghana and Zambia. Devakumar Edwin, Dangote Group Executive Director, Strategy, Portfolio Development and Investment Projects, revealed that if a bag of cement sells for an equivalent of $ 5.1 including VAT in Nigeria, it sells for $ 7. $ 2 in Ghana and $ 5.95 in Zambia ex works. , all taxes included. He said that although the company has direct control over its ex-factory prices, it cannot control the final price of cement when it hits the market. He indicated that it […]
Pick up five different Nigerian dailies any day and the gory tales of killings and orgies of violence ravaging Africa’s biggest economy would stare you in the face. Insecurity has become Nigeria’s biggest nightmare as more and more citizens worry over the safety of their lives and property. Daily, news of kidnapping, insurgency, banditry, farmer-herder […] Read Full Story
With the continued downward spiralling of the economy, strategic policy development and implementation are deemed a critical component to driving economic growth. This is the core of the Africa Advocacy Programmes (AAP), a fresh initiative of the Association of Chartered Certified Accountants (ACCA). Launched on Friday in Nigeria, AAP is regional advocacy to amplify ACCA’s […] Read Full Story
New season, new costs While some consider the commencement of the rainy season as “showers of blessings” others might not as they are experiencing the biting/pinching effects of the costs that accompany it. The prices of major food items, such as bags of beans, pepper, tomatoes, eggs amongst others have witnessed a significant surge in […] Read Full Story
Bullish crude oil prices since beginning of the year have raised hope of a better global fiscal performance after severe disruptions caused by COVID-19 pandemic that unsettled oil dependent economies. The price rise of more than 75 percent since November 2020 has been on account of major economies reopening and vaccinating their populations after the […] Read Full Story
•Governor Winds Up 2-Day Working Visit to Free Trade Zone •‘Lagos Governor Has Made Free Zones Business Friendly’ - Dangote Read More
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The Muhammadu Buhari administration would have left a worthy legacy if it had pursued its projects with utmost transparency and without undue politicisation. At no time, since Nigeria’s return to civil rule in 1999, had citizens shown as much mistrust in government and governance as they have now. The feeling of hopelessness is not just […] Read Full Story
Nigeria’s Monetary Policy Committee (MPC) commences its second meeting for the year 2021 today, and will tomorrow announce policy decision on interest rate direction for an economy that sluggishly exited recession in the fourth quarter of 2020. Maintaining the status quo may likely play out after the meeting, as most analysts polled by BusinessDay expect […] Read Full Story
Now that you have decided to have your home, you may need to rethink your decision. You should know whether Read More
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Real Estate is one of the best assets not just in Nigeria but across different countries. It has lots of Read More
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Last week, I was going through a post on social media where someone asked for investment ideas to help him Read More
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The current hype about real estate businesses being one of the profitable keeps growing, as many investors think of it Read More
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•Sanwo-Olu, Cabinet Members on Two-Day Working Tour of Lagos Free Trade Zones Commercial operations at the Lekki Deep Seaport in Read More
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Fitch Ratings has affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Nigeria’s ‘B’ rating is supported by the large size of the economy, a low general government(GG) debt-to-GDP ratio, small foreign-currency […] Read Full Story
The Nigerian Export Promotion Council (NEPC) on Thursday said it is committed to establishing a Domestic Export Warehouse (DEW) at the dry inland port in Edo State. Olusegun Awolowo, executive director, NEPC gave the assurance during an inspection tour at the Atlantique Marine and Engineering Services Ltd. (AMES) Edo inland dry port in Benin City. […] Read Full Story
Here's the list of the Top 10 Poorest States in Nigeria; 1. Sokoto State Sokoto state is rated as the poorest Read More
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The Executive Chairman of the Kwara State Teaching Service Commission, Mallam Bello Tahueed Abubakar has directed Principals, Teachers and Staff Read More
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Family Owned businesses control a significant portion of Africa’s economy as they form the bulk of Small and Medium Enterprises (SMEs) which in turn forms the backbone of Africa’s economy but most of these businesses struggle with funding. These businesses account for two-thirds of all businesses around the world, generate around 70-90 percent of annual […] Read Full Story
Disturbed by the increasing rate of poverty in Africa, Tony Elumelu, founder of the Tony Elumelu Foundation (TEF), has called for a framework that will widen the circle of prosperity in the continent rather than littering it with lone star billionaires. Elumelu said Africa needs massive investments in infrastructure, electricity, digital technology and healthcare delivery […] Read Full Story
The Nigeria Sovereign Investment Authority, NSIA, yesterday, indicated it has cut its United State of America’s treasury (bond) exposure to less than 20 per cent following concern over soaring yields and expensive valuations for some of the world’s largest firms.
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The agreement is set to provide content for advertising campaigns through traditional & modern media and influencers on social networks Dubai, United Arab Emirates – March 2021 17th: OMNES Media, the leading developer of digital media and marketing solutions, has signed a strategic partnership agreement with Kharabeesh, the leading producer of media, entertainment and animation content, to provide advanced advertising solutions to advertisers in numerous sectors. The agreement was signed at OMNES Media’s headquarters in Dubai recently by Fahed Aldeeb, Chief Executive Officer of OMNES Media, and Mohammed Asfour, Chief Executive Officer of Kharabeesh. OMNES Media and Kharabeesh have joined hands for providing their services to advertisers in public and private sectors worldwide in innovative and professional products aimed at enhancing the impact of advertising campaigns on the targetted audience by using creative content. Talking about OMNES Media’s role in this agreement, Fahed Aldeeb, CEO, said: “OMNES Media has developed […]
The raging insecurity, an exponential increase in the unemployment rate and the recent rise in food inflation signal tough times ahead for Africa’s most populous country, Nigeria. Nigeria’s food inflation jumped to almost 22 percent according to the Consumer Price Index/Inflation data published on Tuesday by the National Bureau of Statistics (NBS). The report, seen […] Read Full Story
MTN’s Commercial Paper closes today MTN Nigeria’s N100bn Series III and IV Commercial Paper (CP) Issuance closes today, one week after it was open to investors. The implied yield on the CP ranges from 4.7 to 6 percent depending on whether it’s the 180-day tenor Series III programme or the 270-day series IV programme. MTN […] Read Full Story
Gombe state is slated to host the rice festival in the Northeast zone where rice pyramids are already springing up Read More
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